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High Yield Fund

Daily price w/o sales charge as of 04/23/2019

$7.38

arrowUp$0.01

YTD Returns w/o sales charge as of 04/23/2019

9.07%

Overall Morningstar Ratings

High Yield Bond
as of 03/31/2019

Morningstar rated the Lord Abbett High Yield Fund class A share 4, 5 and 4 stars among 610, 519 and 332 High Yield Bond Funds for the overall rating and the 3, 5 and 10 year periods ended 3/31/2019, respectively.

Please click here for performance current to the most recent quarter-end and month-end.

Click here to view all legal text including risk information

Summary

Summary

What is the High Yield Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing primarily in high yield corporate bonds.

A HERITAGE OF HIGH YIELD

Brings a 40+ year history of high-yield investing, focused on fundamental, bottom-up credit research.

 

AN OPPORTUNISTIC APPROACH

Provides the flexibility to adjust to the market environment and take advantage of opportunities across the credit spectrum.

STRONG TRACK RECORD

Has offered a track record of strong performance versus peers in up and down markets, demonstrating the strength of this active approach as a core high-yield holding over a full market cycle.

Yield

Dividend Yield 1 as of 04/23/2019  

w/o sales charge 5.62%
w/ sales charge 5.49%

30-Day Standardized Yield 2 as of 03/31/2019  

5.34%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Expense Ratioas of 03/31/2019

Fund Basicsas of 03/29/2019

Total Net Assets
$6.76 B
Inception Date
12/31/1998
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
668
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 7.50% 3.07% 7.90% 4.72% 10.74% 6.74%
Lipper Category Avg. High Yield Funds 6.56% 4.39% 6.93% 3.43% 9.56% -
ICE BofAML U.S. High Yield Constrained Index 7.40% 5.93% 8.68% 4.70% 11.21% 6.78%
w/ sales charge 5.06% 0.79% 7.08% 4.25% 10.49% 6.62%

Fund Expense Ratio :

0.90%

Fund Expense Ratio :

0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 7.50% 3.07% 7.90% 4.72% 10.74% 6.74%
Lipper Category Avg. High Yield Funds 6.56% 4.39% 6.93% 3.43% 9.56% -
ICE BofAML U.S. High Yield Constrained Index 7.40% 5.93% 8.68% 4.70% 11.21% 6.78%
w/ sales charge 5.06% 0.79% 7.08% 4.25% 10.49% 6.62%

Fund Expense Ratio :

0.90%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance of future results.

RELATED CONTENT

U.S. High Yield: Lessons from the Recent Volatility
February 11, 2019

Rather than trying to anticipate short-term price moves, we believe investors would be better served by focusing on the asset class’s long-term history of risk-adjusted returns.

High Yield: Holding Up in 2018
August 6, 2018

So far in 2018, high yield has outperformed investment grade, with lower-rated issues leading the way.

High Yield: Active or Passive? Four Points to Consider
March 26, 2018

Here, we offer a closer look at the key attributes—and relative performance—of the two strategies.

Type Assets
High Yield Bonds
Bank Loans
Equity
Investment Grade Bonds
Convertibles
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Maturity Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 03/29/2019 View Portfolio

Rating Assets
BBB
BB
B
<B
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Investment Team

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

18 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Managing Director & Portfolio Manager

11 Years of Industry Experience

Supported By 68 Investment Professionals with 15 Years Avg. Industry Experience

Contact a Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Performance

Dividend Yield 1 as of 04/23/2019  

w/o sales charge 5.62%
w/ sales charge 5.49%

30-Day Standardized Yield 2 as of 03/31/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 5.34% 5.34%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 7.50% 3.07% 7.90% 4.72% 10.74% 6.74%
Lipper Category Avg. High Yield Funds 6.56% 4.39% 6.93% 3.43% 9.56% -
ICE BofAML U.S. High Yield Constrained Index 7.40% 5.93% 8.68% 4.70% 11.21% 6.78%
w/ sales charge 5.06% 0.79% 7.08% 4.25% 10.49% 6.62%

Fund Expense Ratio :

0.90%

Fund Expense Ratio :

0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 7.50% 3.07% 7.90% 4.72% 10.74% 6.74%
Lipper Category Avg. High Yield Funds 6.56% 4.39% 6.93% 3.43% 9.56% -
ICE BofAML U.S. High Yield Constrained Index 7.40% 5.93% 8.68% 4.70% 11.21% 6.78%
w/ sales charge 5.06% 0.79% 7.08% 4.25% 10.49% 6.62%

Fund Expense Ratio :

0.90%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance of future results.

Year Fund Returns ICE BofAML U.S. High Yield Constrained Index
2018 -5.15% -2.27%
2017 8.50% 7.48%
2016 15.84% 17.49%
2015 -2.26% -4.61%
2014 3.46% 2.51%
2013 9.69% 7.41%
2012 16.50% 15.55%
2011 3.15% 4.37%
2010 14.31% 15.07%
2009 50.51% 58.10%
2008 -23.42% -
2007 2.43% -
2006 9.94% -
2005 1.15% -
2004 10.42% -
2003 21.59% -
2002 -0.10% -
2001 5.36% -
2000 -3.01% -
1999 6.57% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 7.50% - - - 9.07%
2018 -1.07% -0.04% 2.54% -6.47% -5.15%
2017 2.82% 1.98% 2.45% 1.00% 8.50%
2016 2.01% 5.52% 5.46% 2.05% 15.84%
2015 3.05% 0.86% -4.23% -1.81% -2.26%
2014 2.92% 3.38% -1.83% -0.95% 3.46%
2013 3.97% -1.03% 2.51% 3.99% 9.69%
2012 6.63% 0.36% 5.06% 3.61% 16.50%
2011 3.82% 1.07% -7.02% 5.73% 3.15%
2010 4.93% -0.92% 6.33% 3.40% 14.31%
2009 5.95% 17.32% 14.23% 6.01% 50.51%
2008 -3.43% 1.99% -7.81% -15.68% -23.42%
2007 2.98% 0.17% 0.48% -1.17% 2.43%
2006 2.57% 0.01% 2.80% 4.27% 9.94%
2005 -1.74% 1.49% 0.87% 0.56% 1.15%
2004 1.07% -0.32% 4.34% 5.04% 10.42%
2003 4.06% 8.25% 2.40% 5.41% 21.59%
2002 1.51% -3.59% -3.78% 6.10% -0.10%
2001 5.14% -1.67% -3.99% 6.15% 5.36%
2000 -1.66% 0.99% 0.31% -2.65% -3.01%
1999 3.43% -0.11% -0.81% 3.99% 6.57%
1998 - - - - 0.80%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

Growth of $10,000 as of 03/31/2019

The chart begins on the Fund's inception date of 12/31/1998.

Based on a hypothetical Class A share investment of $10,000 on 12/31/1998 without sales charge and includes the reinvestment of all distributions.

 

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Bonds
Bank Loans
Equity
Investment Grade Bonds
Convertibles
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Rating Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 03/29/2019

Rating Assets
BBB
BB
B
<B
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Portfolio Positioning as of 12/31/2018

  • High yield bonds came under pressure over the fourth quarter amid fears of slowing global growth and potential U.S. Federal Reserve (Fed) policy mistakes, as well as sharp equity and oil price declines. The segment underperformed investment grade issues, as represented by the Bloomberg Barclays U.S. Aggregate Bond Index.
  • The portfolio is overweight the retail sector, as we believe a strong consumer, low unemployment, high consumer confidence, and an uptick in wage inflation is a tailwind for this sector.
  • The portfolio is overweight the health care sector. We believe this sector is attractive due to improving volumes in the hospitals segment and improved overall sentiment in the industry.
  • We decreased the portfolio’s underweight to the telecom sector in an effort to be more defensively positioned given the volatility during the quarter. That said, it remains the portfolio’s largest underweight, as we believe that in addition to secular issues faced by the wireline segment, idiosyncratic issues continue to plague major wireline companies.
  • As of quarter-end, the portfolio had modest allocations to out-of-index sectors, such as bank loans, convertibles, investment grade bonds, and equities. We believe select exposures to these sectors offer attractive risk-reward opportunities, potential portfolio diversification benefits and avenues for liquidity.
  • We continue to believe that general economic fundamentals and strong expected earnings growth will favor the lower-rated segments of the high yield market. We expect default rates to remain subdued and believe that high yield spreads can grind tighter from current levels as consumer sentiment continues to improve.

Portfolio Details as of 03/29/2019

Total Net Assets
$6.76 B
Number of Issues
668
Average Coupon
6.39%
Average Maturity
6.68 Years
Average Effective Duration
4.41 Years

To view definitions for the above Portfolio Details, Click here.

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding Coupon Maturity Assets
Sprint Capital Corp. 6.875% 11/15/2028 1.7%
T-Mobile USA, Inc. 6.500% 01/15/2026 0.8%
Ally Financial, Inc. 8.000% 11/01/2031 0.7%
Tenet Healthcare Corp. 5.125% 05/01/2025 0.6%
Numericable Group S.A. 7.375% 05/01/2026 0.6%
Freeport-McMoRan, Inc. 3.875% 03/15/2023 0.6%
Tesla Motors, Inc. 5.300% 08/15/2025 0.6%
CCO Holdings LLC / CCO Holdings Capital Corp. 5.750% 02/15/2026 0.6%
HCA, Inc. 5.500% 06/15/2047 0.6%
Valeant Pharmaceuticals International, Inc. 5.875% 05/15/2023 0.6%
% of Total Assets 7.4%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Holding Coupon Maturity Assets
Sprint Capital Corp.6.875% 11/15/20281.8%
T-Mobile USA, Inc.6.500% 01/15/20260.8%
Ally Financial, Inc.8.000% 11/01/20310.7%
Tenet Healthcare Corp.5.125% 05/01/20250.6%
Numericable Group S.A.7.375% 05/01/20260.6%
Freeport-McMoRan, Inc.3.875% 03/15/20230.6%
Tesla Motors, Inc.5.300% 08/15/20250.6%
CCO Holdings LLC / CCO Holdings Capital Corp.5.750% 02/15/20260.6%
TransDigm, Inc.6.375% 06/15/20260.5%
HCA, Inc.5.500% 06/15/20470.5%
CCO Holdings LLC / CCO Holdings Capital Corp.5.875% 04/01/20240.5%
Calpine Corp.5.750% 01/15/20250.5%
Netflix, Inc.3.625% 05/15/20270.5%
Pacific Gas & Electric Co.6.050% 03/01/20340.5%
Netflix, Inc.5.875% 02/15/20250.5%
Valeant Pharmaceuticals International, Inc.5.875% 05/15/20230.5%
General Electric Co.5.000% 12/31/20990.5%
RegionalCare Hospital Partners Holdings Inc / Life9.750% 12/01/20260.5%
Albertsons Cos LLC / Safeway, Inc. / New Albertson6.625% 06/15/20240.5%
Bombardier, Inc.7.500% 03/15/20250.5%
CSC Holdings LLC5.500% 04/15/20270.4%
CCO Holdings LLC / CCO Holdings Capital Corp.5.875% 05/01/20270.4%
DISH DBS Corp.7.750% 07/01/20260.4%
United Rentals, Inc.4.875% 01/15/20280.4%
Molina Healthcare, Inc.4.875% 06/15/20250.4%
CSC Holdings LLC10.875% 10/15/20250.4%
UPCB Finance Ltd.5.375% 01/15/20250.4%
MEG Energy Corp.7.000% 03/31/20240.4%
Cheniere Corpus Christi Holdings LLC5.875% 03/31/20250.4%
Navient Corp.6.750% 06/25/20250.4%
Valeant Pharmaceuticals International, Inc.8.500% 01/31/20270.4%
Intelsat Jackson Holdings SA5.500% 08/01/20230.4%
Altice Luxembourg SA7.750% 05/15/20220.4%
WellCare Health Plans, Inc.5.250% 04/01/20250.4%
Peabody Energy Corp.6.375% 03/31/20250.4%
DKT Finance ApS9.375% 06/17/20230.4%
CF Industries, Inc.5.150% 03/15/20340.3%
Navient Corp.6.125% 03/25/20240.3%
Verscend Escrow Corp9.750% 08/15/20260.3%
Cheniere Corpus Christi Holdings LLC5.125% 06/30/20270.3%
Chesapeake Energy Corp.7.000% 10/01/20240.3%
TransDigm, Inc.6.250% 03/15/20260.3%
Sirius XM Radio, Inc.5.000% 08/01/20270.3%
MGM Resorts International4.625% 09/01/20260.3%
Numericable Group S.A.8.125% 02/01/20270.3%
Equinix, Inc.2.875% 02/01/20260.3%
Centene Corp.4.750% 01/15/20250.3%
Cliffs Natural Resources, Inc.5.750% 03/01/20250.3%
Diamondback Energy, Inc.4.750% 11/01/20240.3%
California Resources Corp.8.000% 12/15/20220.3%
Rockies Express Pipeline LLC6.875% 04/15/20400.3%
Match Group, Inc.5.000% 12/15/20270.3%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o5.000% 06/01/20240.3%
RBS Global & Rexnord Corp.4.875% 12/15/20250.3%
AMC Networks, Inc.4.750% 08/01/20250.3%
Centene Corp.5.375% 06/01/20260.3%
Ziggo BV5.500% 01/15/20270.3%
Tenet Healthcare Corp.6.750% 06/15/20230.3%
CSL Capital, LLC8.250% 10/15/20230.3%
Dell International LLC / EMC Corp6.020% 06/15/20260.3%
Tenet Healthcare Corp.6.250% 02/01/20270.3%
CCO Holdings LLC / CCO Holdings Capital Corp.5.125% 05/01/20270.3%
TRI Pointe Homes LLC5.250% 06/01/20270.3%
Community Health Systems, Inc.8.000% 11/15/20190.3%
CIT Group, Inc.6.125% 03/09/20280.3%
Ingevity Corp.4.500% 02/01/20260.3%
Century Communities, Inc.5.875% 07/15/20250.3%
Springleaf Finance Corp.6.125% 03/15/20240.3%
Western Digital Corp.4.750% 02/15/20260.3%
Clear Channel Worldwide Holdings, Inc.6.500% 11/15/20220.3%
Yingde Gases Investment Ltd6.250% 01/19/20230.3%
Azul Investments LLP5.875% 10/26/20240.3%
NRG Energy, Inc.5.750% 01/15/20280.3%
Valeant Pharmaceuticals International, Inc.5.500% 03/01/20230.3%
Mueller Water Products, Inc.5.500% 06/15/20260.3%
MSCI, Inc.5.750% 08/15/20250.3%
Rio Oil Finance Trust Series 2018-18.200% 04/06/20280.3%
Intelsat Jackson Holdings SA8.500% 10/15/20240.2%
CONSOL Energy Inc11.000% 11/15/20250.2%
CSC Holdings LLC6.500% 02/01/20290.2%
Mclaren Finance PLC5.000% 08/01/20220.2%
GCI LLC6.875% 04/15/20250.2%
IRB Holding Corp6.750% 02/15/20260.2%
Popular, Inc.6.125% 09/14/20230.2%
SM Energy Co.6.625% 01/15/20270.2%
CEC Entertainment, Inc.8.000% 02/15/20220.2%
Citgo Holding, Inc.10.750% 02/15/20200.2%
Pulte Group, Inc.5.000% 01/15/20270.2%
Ortho-Clinical Diagnostics Inc / Ortho-Clinical Di6.625% 05/15/20220.2%
Ashland, Inc.6.875% 05/15/20430.2%
Summit Materials LLC5.125% 06/01/20250.2%
Tapstone Energy LLC / Tapstone Energy Finance Corp9.750% 06/01/20220.2%
Alcoa Nederland Holding BV6.750% 09/30/20240.2%
Pulte Group, Inc.5.500% 03/01/20260.2%
Beacon Roofing Supply, Inc.4.875% 11/01/20250.2%
Churchill Downs, Inc.4.750% 01/15/20280.2%
MPT Operating Partnership L.P.5.000% 10/15/20270.2%
CNO Financial Group, Inc.5.250% 05/30/20250.2%
Gibson Brands, Inc0.000% -0.2%
Synovus Financial Corp.5.900% 02/07/20290.2%
Netflix, Inc.4.625% 05/15/20290.2%
DaVita, Inc.5.000% 05/01/20250.2%
HCA, Inc.8.360% 04/15/20240.2%
Tenet Healthcare Corp.4.625% 07/15/20240.2%
Mattel, Inc.6.750% 12/31/20250.2%
Lennar Corp.4.750% 05/30/20250.2%
Promontoria Holding 264 BV6.750% 08/15/20230.2%
Baffinland Iron Mines Corp / Baffinland Iron Mines8.750% 07/15/20260.2%
Sensata Technologies BV5.625% 11/01/20240.2%
Ball Corp.4.875% 03/15/20260.2%
BEP Ulterra Holdings Inc.0.000% 11/26/20250.2%
Cemig Geracao e Transmissao SA9.250% 12/05/20240.2%
Valeant Pharmaceuticals International, Inc.5.625% 12/01/20210.2%
Hilton Domestic Operating Co, Inc.5.125% 05/01/20260.2%
Centennial Resource Production LLC5.375% 01/15/20260.2%
Callon Petroleum Co.6.125% 10/01/20240.2%
Brink's Co/The4.625% 10/15/20270.2%
Blue Cube Spinco, Inc.10.000% 10/15/20250.2%
Builders FirstSource, Inc.5.625% 09/01/20240.2%
Aston Martin Capital Holdings Ltd6.500% 04/15/20220.2%
Wabtec Corp.3.450% 11/15/20260.2%
Post Holdings, Inc.5.500% 03/01/20250.2%
Berry Petroleum Co.7.000% 02/15/20260.2%
PGT Escrow Issuer Inc6.750% 08/01/20260.2%
Covanta Holding Corp.6.000% 01/01/20270.2%
Banff Merger Sub Inc9.750% 09/01/20260.2%
Eldorado Resorts, Inc.6.000% 04/01/20250.2%
Hub International Ltd.7.000% 05/01/20260.2%
Denbury Resources, Inc.5.500% 05/01/20220.2%
Service Corp. International4.625% 12/15/20270.2%
Jonah Energy LLC / Jonah Energy Finance Corp7.250% 10/15/20250.2%
Noble Holding International Ltd.7.875% 02/01/20260.2%
Weight Watchers International, Inc.8.625% 12/01/20250.2%
Cogent Communications Group, Inc.5.375% 03/01/20220.2%
Precision Drilling Corp.5.250% 11/15/20240.2%
Under Armour, Inc.3.250% 06/15/20260.2%
Macquarie Bank Ltd./London6.125% 03/08/21670.2%
Teva Pharmaceutical Finance Netherlands III BV3.150% 10/01/20260.2%
Sinclair Broadcast Group, Inc.5.875% 03/15/20260.2%
Penn National Gaming, Inc.5.625% 01/15/20270.2%
Waste Pro USA Inc5.500% 02/15/20260.2%
Booz Allen Hamilton, Inc.5.125% 05/01/20250.2%
BankUnited, Inc.4.875% 11/17/20250.2%
Conn's, Inc.7.250% 07/15/20220.2%
Sinclair Broadcast Group, Inc.5.125% 02/15/20270.2%
EW Scripps Co.5.125% 05/15/20250.2%
Rede D'or Finance Sarl4.950% 01/17/20280.2%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.2%
Oasis Petroleum, Inc.6.250% 05/01/20260.2%
Shea Homes LP / Shea Homes Funding Corp.6.125% 04/01/20250.2%
Jagged Peak Energy LLC5.875% 05/01/20260.2%
Horizon Pharma USA Inc8.750% 11/01/20240.2%
Exterran Energy Solutions L.P. / EES Finance Corp.8.125% 05/01/20250.2%
Williams Scotsman International Inc6.875% 08/15/20230.2%
Brand Energy & Infrastructure Services Inc8.500% 07/15/20250.2%
AHP Health Partners Inc9.750% 07/15/20260.2%
Genworth Holdings Inc4.900% 08/15/20230.2%
Southwestern Energy Co.7.750% 10/01/20270.2%
KeyCorp.5.000% 12/31/20990.2%
Nationstar Mortgage Holdings, Inc.9.125% 07/15/20260.2%
VOC Escrow Ltd5.000% 02/15/20280.2%
Toll Brothers Finance Corp.4.875% 03/15/20270.2%
Gray Television, Inc.7.000% 05/15/20270.2%
Jurassic Holdings III, Inc.6.875% 02/15/20210.2%
Lamb Weston Holdings, Inc.4.875% 11/01/20260.2%
SPX FLOW, Inc.5.625% 08/15/20240.2%
WPX Energy, Inc.5.250% 09/15/20240.2%
NGPL Pipeco LLC4.875% 08/15/20270.2%
Aegea Finance Sarl5.750% 10/10/20240.2%
FAGE International SA/ FAGE USA Dairy Industry Inc5.625% 08/15/20260.2%
Hillman Group, Inc.6.375% 07/15/20220.2%
NextEra Energy Operating Partners LP4.500% 09/15/20270.2%
Belo Corp.7.250% 09/15/20270.2%
HCA, Inc.7.500% 12/15/20230.2%
AMC Networks, Inc.5.000% 04/01/20240.2%
Cheniere Energy Partners LP5.625% 10/01/20260.2%
William Carter Co.5.625% 03/15/20270.2%
Lamb Weston Holdings, Inc.4.625% 11/01/20240.2%
Intertape Polymer Group Inc7.000% 10/15/20260.2%
Rumo Luxembourg Sarl7.375% 02/09/20240.2%
Valeant Pharmaceuticals International, Inc.4.500% 05/15/20230.2%
SRC Energy Inc6.250% 12/01/20250.2%
Yum! Brands, Inc.5.350% 11/01/20430.2%
CSI Compressco LP / CSI Compressco Finance Inc7.500% 04/01/20250.2%
Magnolia Oil & Gas Operating LLC / Magnolia Oil &6.000% 08/01/20260.2%
Air Medical Group Holdings, Inc.6.375% 05/15/20230.2%
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell o4.750% 06/01/20270.2%
Gray Television, Inc.5.875% 07/15/20260.2%
Banff Merger Sub Inc8.375% 09/01/20260.2%
HCA, Inc.5.875% 02/01/20290.2%
Sirius XM Radio, Inc.5.375% 07/15/20260.2%
Norbord, Inc.6.250% 04/15/20230.2%
Enterprise Development Authority/The12.000% 07/15/20240.2%
Williams Scotsman International Inc7.875% 12/15/20220.2%
SM Energy Co.6.750% 09/15/20260.2%
Marriott Ownership Resorts Inc / ILG LLC6.500% 09/15/20260.2%
Autopistas del Sol SA/Costa Rica7.375% 12/30/20300.2%
West Street Merger Sub Inc6.375% 09/01/20250.2%
Ingles Markets, Inc.5.750% 06/15/20230.2%
Vistra Operations Co LLC5.500% 09/01/20260.2%
Clear Channel Worldwide Holdings, Inc.9.250% 02/15/20240.2%
MEG Energy Corp.6.500% 01/15/20250.2%
Rumo Luxembourg Sarl5.875% 01/18/20250.2%
Credit Suisse Group AG7.250% 09/12/21680.2%
Texas Capital Bank NA/Dallas TX5.250% 01/31/20260.2%
Wendy's International, Inc.7.000% 12/15/20250.2%
Stoneway Capital Corp10.000% 03/01/20270.2%
DaVita, Inc.5.125% 07/15/20240.2%
Ladder Capital Finance Holdings LLC/Ladder Capital5.250% 10/01/20250.2%
William Lyon Homes, Inc.6.000% 09/01/20230.2%
Steel Dynamics, Inc.4.125% 09/15/20250.2%
Masonite International Corp.5.750% 09/15/20260.2%
HLF Financing Sarl LLC / Herbalife International I7.250% 08/15/20260.2%
Cheniere Energy Partners LP5.250% 10/01/20250.2%
VeriSign, Inc.5.250% 04/01/20250.2%
Murphy Oil USA, Inc.5.625% 05/01/20270.2%
Garrett LX I Sarl / Garrett Borrowing LLC5.125% 10/15/20260.2%
Versum Materials, Inc.5.500% 09/30/20240.2%
TopBuild Corp.5.625% 05/01/20260.2%
Matterhorn Merger Sub LLC / Matterhorn Finance Sub8.500% 06/01/20260.2%
Rain CII Carbon LLC7.250% 04/01/20250.2%
j2 Cloud Services LLC / j2 Global Co-Obligor Inc6.000% 07/15/20250.2%
Enova International, Inc.8.500% 09/01/20240.2%
Provincia de Rio Negro7.750% 12/07/20250.2%
William Lyon Homes, Inc.5.875% 01/31/20250.2%
InterXion Holding NV4.750% 06/15/20250.2%
JBS USA LLC/JBS USA Finance, Inc.6.750% 02/15/20280.2%
Orchestra Borrower LLC / Orchestra Co-Issuer Inc6.750% 06/15/20220.2%
Fair Isaac Corp.5.250% 05/15/20260.2%
Provincia de la Rioja9.750% 02/24/20250.2%
Coeur Mining, Inc.5.875% 06/01/20240.2%
Upwork Inc0.000% -0.2%
Pharmaceutical Product Development LLC6.375% 08/01/20230.2%
Garda World Security Corp8.750% 05/15/20250.2%
Mohegan Tribal Gaming Authority7.875% 10/15/20240.2%
Tenneco, Inc.5.000% 07/15/20260.2%
ESH Hospitality, Inc.5.250% 05/01/20250.2%
Guitar Center Escrow Issuer Inc9.500% 10/15/20210.2%
Tullow Oil plc7.000% 03/01/20250.2%
Kratos Defense & Security Solutions Inc6.500% 11/30/20250.2%
Techem Verwaltungsgesellschaft 674 mbH6.000% 07/30/20260.1%
Meredith Corp.6.875% 02/01/20260.1%
New Gold, Inc.6.250% 11/15/20220.1%
Itron, Inc.5.000% 01/15/20260.1%
Electricite de France SA5.625% 01/22/21640.1%
NCI Building Systems, Inc.8.000% 04/15/20260.1%
Sri Lanka (Democratic Socialist Republic of)6.825% 07/18/20260.1%
Wolverine World Wide, Inc.5.000% 09/01/20260.1%
Chobani LLC / Chobani Finance Corp Inc7.500% 04/15/20250.1%
JB Poindexter & Co., Inc.7.125% 04/15/20260.1%
Apergy Corp6.375% 05/01/20260.1%
Seacoast Banking Corp. of Florida0.000% -0.1%
BCD Acquisition, Inc.9.625% 09/15/20230.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.000% 12/01/20240.1%
Everi Payments Inc7.500% 12/15/20250.1%
Boyne USA Inc7.250% 05/01/20250.1%
ADT Corp.4.875% 07/15/20320.1%
Brazos Valley Longhorn LLC / Brazos Valley Longhor6.875% 02/01/20250.1%
Jacobs Entertainment, Inc.7.875% 02/01/20240.1%
Barminco Finance Pty Ltd.6.625% 05/15/20220.1%
Southern Star Central Corp.5.125% 07/15/20220.1%
WeWork Cos Inc7.875% 05/01/20250.1%
Tenet Healthcare Corp.7.000% 08/01/20250.1%
Acrisure LLC / Acrisure Finance Inc7.000% 11/15/20250.1%
Warrior Met Coal Inc8.000% 11/01/20240.1%
Huntington Bancshares, Inc.5.700% 12/31/20990.1%
Pactiv Corp.7.950% 12/15/20250.1%
Del Frisco's Restaurant Grou8.500% 06/27/20250.1%
Rockpoint Gas Storage Canada Ltd7.000% 03/31/20230.1%
Teleflex, Inc.4.875% 06/01/20260.1%
Ashton Woods USA LLC / Ashton Woods Finance Co.6.750% 08/01/20250.1%
Forming Machining Indust6.947% 10/09/20250.1%
Buena Vista Gaming Authority13.000% 04/01/20230.1%
PDC Energy, Inc.6.125% 09/15/20240.1%
Cenovus Energy, Inc.4.250% 04/15/20270.1%
Salem Communications Corp.6.750% 06/01/20240.1%
Surgery Center Holdings, Inc.6.750% 07/01/20250.1%
Mercer International, Inc.5.500% 01/15/20260.1%
Geo Group, Inc.6.000% 04/15/20260.1%
Transocean Poseidon Ltd6.875% 02/01/20270.1%
MPH Acquisition Holdings LLC7.125% 06/01/20240.1%
SPCM S.A.4.875% 09/15/20250.1%
Quicken Loans Inc5.250% 01/15/20280.1%
CDW Corp.5.500% 12/01/20240.1%
Targa Resources Partners L.P.5.375% 02/01/20270.1%
Polaris Intermediate Corp8.500% 12/01/20220.1%
Millicom International Cellular S.A.6.625% 10/15/20260.1%
Turkiye Garanti Bankasi AS5.250% 09/13/20220.1%
Sealed Air Corp.6.875% 07/15/20330.1%
Nine Energy Service Inc8.750% 11/01/20230.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.5.750% 10/01/20250.1%
Fresh Market, Inc.9.750% 05/01/20230.1%
Ahern Rentals, Inc.7.375% 05/15/20230.1%
MasTec, Inc.4.875% 03/15/20230.1%
Clearway Energy Operating LLC5.750% 10/15/20250.1%
New Home Co, Inc./The7.250% 04/01/20220.1%
Summit Materials LLC6.500% 03/15/20270.1%
Inter Media and Communication SpA4.875% 12/31/20220.1%
OCI NV6.625% 04/15/20230.1%
Indigo Natural Resources LLC6.875% 02/15/20260.1%
Province of Santa Fe6.900% 11/01/20270.1%
Marble II Pte Ltd.5.300% 06/20/20220.1%
Diebold, Inc.8.500% 04/15/20240.1%
Acrisure LLC / Acrisure Finance Inc8.125% 02/15/20240.1%
Mobile Mini, Inc.5.875% 07/01/20240.1%
Dutch Lion BV11.250% 06/15/20200.1%
Univision Communications Inc.5.243% 03/15/20240.1%
Trident Merger Sub Inc6.625% 11/01/20250.1%
AES Corp.4.500% 03/15/20230.1%
Chesapeake Energy Corp.7.500% 10/01/20260.1%
Targa Resources Partners L.P.4.250% 11/15/20230.1%
WPX Energy, Inc.5.750% 06/01/20260.1%
Laureate Education, Inc.8.250% 05/01/20250.1%
Deck Chassis Acquisition, Inc.10.000% 06/15/20230.1%
Alliant Holdings Intermediate LLC8.250% 08/01/20230.1%
Hill-Rom Holdings, Inc.5.750% 09/01/20230.1%
Hill-Rom Holdings, Inc.5.000% 02/15/20250.1%
NSG Holdings LLC / NSG Holdings, Inc.7.750% 12/15/20250.1%
W&T Offshore, Inc.9.750% 11/01/20230.1%
HCA, Inc.5.375% 02/01/20250.1%
Antero Midstream Partners L.P. / Antero Midstream5.375% 09/15/20240.1%
B&G Foods, Inc.5.250% 04/01/20250.1%
Hawaiian Airlines Class B Pass Through Certificate4.950% 01/15/20220.1%
Netflix, Inc.4.875% 04/15/20280.1%
TreeHouse Foods, Inc.6.000% 02/15/20240.1%
Flex Acquisition Co Inc7.875% 07/15/20260.1%
Targa Resources Partners L.P.5.875% 04/15/20260.1%
Eterna Capital Pte Ltd8.000% 12/11/20220.1%
Permian Resources LLC / AEPB Finance Corp.13.000% 11/30/20200.1%
Steel Dynamics, Inc.5.000% 12/15/20260.1%
Freedom Mortgage Corp8.250% 04/15/20250.1%
Energizer Holdings, Inc.6.375% 07/15/20260.1%
Merlin Entertainments PLC5.750% 06/15/20260.1%
Sanchez Energy Corp.7.250% 02/15/20230.1%
Caesars Palace Las Vegas Trust 2017-VICI4.354% 10/15/20340.1%
General Motors Financial Co., Inc.5.650% 01/17/20290.1%
Stonegate Pub Company Financing PLC4.875% 03/15/20220.1%
Tempo Acquisition LLC / Tempo Acquisition Finance6.750% 06/01/20250.1%
Pulte Group, Inc.6.375% 05/15/20330.1%
AES Corp.5.125% 09/01/20270.1%
Buenos Aires, Argentina7.500% 06/01/20270.1%
Topgolf International, Inc.8.020% 02/09/20260.1%
Cargurus Inc0.000% -0.1%
Hilton Domestic Operating Co, Inc.4.250% 09/01/20240.1%
GW Pharmaceuticals plc0.000% -0.1%
Allegheny Technologies, Inc.7.875% 08/15/20230.1%
Sirius XM Radio, Inc.6.000% 07/15/20240.1%
GOBP Holdings Inc.9.658% 10/22/20260.1%
Ritchie Bros Auctioneers, Inc.5.375% 01/15/20250.1%
Provident Funding Associates L.P. / PFG Finance Co6.375% 06/15/20250.1%
Parsley Energy LLC6.250% 06/01/20240.1%
Everbridge, Inc.1.500% 11/01/20220.1%
Transocean Proteus Ltd.6.250% 12/01/20240.1%
Central American Bottling Corp.5.750% 01/31/20270.1%
Darling Global Finance BV3.625% 05/15/20260.1%
Holly Energy Partners L.P. / Holly Energy Finance6.000% 08/01/20240.1%
Novelis Corp.6.250% 08/15/20240.1%
Wabash National Corp.5.500% 10/01/20250.1%
Etsy, Inc.0.000% 03/01/20230.1%
MHP Lux SA6.950% 04/03/20260.1%
Kernel Holding SA8.750% 01/31/20220.1%
Moncler SpA0.000% -0.1%
York Risk Services Holding Corp8.500% 10/01/20220.1%
Gateway Casinos & Entertainment Ltd8.250% 03/01/20240.1%
Cardtronics Inc / Cardtronics USA Inc5.500% 05/01/20250.1%
Paprec Holding SA4.000% 03/31/20250.1%
Lennar Corp.4.500% 04/30/20240.1%
Rio Energy SA / UGEN SA / UENSA SA6.875% 02/01/20250.1%
WTT Investment Ltd/Hong Kong5.500% 11/21/20220.1%
SPX FLOW, Inc.5.875% 08/15/20260.1%
Bristow Group, Inc.8.750% 03/01/20230.1%
Shake Shack, Inc.0.000% -0.1%
Provincia de Mendoza Argentina8.375% 05/19/20240.1%
Qorvo, Inc.5.500% 07/15/20260.1%
Transocean Phoenix 2 Ltd.7.750% 10/15/20240.1%
EnerSys5.000% 04/30/20230.1%
Great Lakes Dredge & Dock Corp.8.000% 05/15/20220.1%
Hilcorp Energy L.P. / Hilcorp Finance Co.6.250% 11/01/20280.1%
American Woodmark Corp.4.875% 03/15/20260.1%
Mirion Technologies Inc6.698% 02/26/20260.1%
Tronox Finance PLC5.750% 10/01/20250.1%
Kuehg Corp11.053% 08/15/20250.1%
H&E Equipment Services, Inc.5.625% 09/01/20250.1%
W/S Packaging Holdings Inc9.000% 04/15/20230.1%
Kenan Advantage Group, Inc.7.875% 07/31/20230.1%
Glaukos Corp.0.000% -0.1%
Helix Gen Funding, LLC6.243% 06/03/20240.1%
Murphy Oil Corp.6.875% 08/15/20240.1%
ServiceMaster Co LLC/The5.125% 11/15/20240.1%
DPL, Inc.7.250% 10/15/20210.1%
JBS USA LLC/JBS USA Finance, Inc.5.875% 07/15/20240.1%
Extraction Oil & Gas Inc7.375% 05/15/20240.1%
Valeant Pharmaceuticals International, Inc.7.000% 03/15/20240.1%
Endeavor Energy Resources L.P.5.500% 01/30/20260.1%
Boyd Gaming Corp.6.000% 08/15/20260.1%
Argenx SE0.000% -0.1%
TGP Holdings III LLC11.303% 09/20/20250.1%
Southwestern Energy Co.7.500% 04/01/20260.1%
Dynagas LNG Partners L.P.6.250% 10/30/20190.1%
Navicure Inc9.993% 10/31/20250.1%
Elwood Energy LLC8.159% 07/05/20260.1%
Eskom Holdings SOC Ltd.8.450% 08/10/20280.1%
Live Nation Entertainment, Inc.5.625% 03/15/20260.1%
Lamar Media Corp.5.750% 02/01/20260.1%
Eldorado Resorts, Inc.6.000% 09/15/20260.1%
Taylor Morrison Communities Inc6.625% 05/15/20220.1%
Square, Inc.0.500% 05/15/20230.1%
Tencent Music Entertainment Group0.000% -0.1%
CVR Partners LP / CVR Nitrogen Finance Corp9.250% 06/15/20230.1%
Nokia Corp.4.375% 06/12/20270.1%
Oceaneering International, Inc.6.000% 02/01/20280.1%
Community Health Systems, Inc.5.125% 08/01/20210.1%
GCP Applied Technologies, Inc.5.500% 04/15/20260.1%
Longview Power8.750% 03/25/20210.1%
Deckers Outdoor Corp.0.000% -0.1%
Malibu Boats, Inc.0.000% -0.1%
Stevens Holding Co Inc6.125% 10/01/20260.1%
Charles River Laboratories International, Inc.5.500% 04/01/20260.1%
Bill Barrett Corp.7.000% 10/15/20220.1%
Denbury Resources, Inc.9.000% 05/15/20210.1%
Tupras Turkiye Petrol Rafine4.500% 10/18/20240.1%
Golar LNG Partners L.P.8.866% 05/18/20210.1%
Sally Holdings LLC / Sally Capital, Inc.5.625% 12/01/20250.1%
Sotheby's4.875% 12/15/20250.1%
iRobot Corp.0.000% -0.1%
Elanco Animal Health Inc4.900% 08/28/20280.1%
Sugarhouse HSP Gaming Prop Mezz LP/Fin Corp.5.875% 05/15/20250.1%
Geopark Ltd.6.500% 09/21/20240.1%
Chemours Co.5.375% 05/15/20270.1%
Provincia de Cordoba7.450% 09/01/20240.1%
Dover Corp.0.000% -0.1%
MGM Growth Properties Operating Partnership LP / M5.625% 05/01/20240.1%
Novelis Corp.5.875% 09/30/20260.1%
Intuitive Surgical, Inc.0.000% -0.1%
Intelsat Connect Finance SA9.500% 02/15/20230.1%
Chemours Co.4.000% 05/15/20260.1%
MSCI, Inc.0.000% -0.1%
Six Flags Entertainment Corp.5.500% 04/15/20270.1%
Louisiana-Pacific Corp.4.875% 09/15/20240.1%
Stena AB7.000% 02/01/20240.1%
Asbury Automotive Group, Inc.6.000% 12/15/20240.1%
Yak Access LLC12.319% 07/10/20260.1%
Stars Group Holdings BV / Stars Group US Co-Borrow7.000% 07/15/20260.1%
Aerovironment, Inc.0.000% -0.1%
LBC Tank Terminals Holding Netherlands BV6.875% 05/15/20230.1%
Latam Finance Ltd.7.000% 03/01/20260.1%
KGA Escrow LLC7.500% 08/15/20230.1%
Navistar International Corp.6.625% 11/01/20250.1%
Twilio, Inc.0.250% 06/01/20230.1%
Station Casinos LLC5.000% 10/01/20250.1%
Uber Technologies Inc8.000% 11/01/20260.1%
Teledyne Technologies, Inc.0.000% -0.1%
First Solar, Inc.0.000% -0.1%
First Republic Bank/San Francisco CA0.000% -0.1%
RegionalCare Hospital Partners Holdings Inc8.250% 05/01/20230.1%
Airxcel, Inc.7.252% 04/28/20250.1%
HEICO Corp.0.000% -0.1%
Zebra Technologies Corp.0.000% -0.1%
Restoration Hardware Holdings, Inc.0.000% 07/15/20200.1%
Shopify, Inc.0.000% -0.1%
Revlon, Inc. Class A5.571% 09/07/20230.1%
Chaparral Energy, Inc.8.750% 07/15/20230.1%
Canopy Growth Corp4.250% 07/15/20230.1%
Terraform Global Operating LLC6.125% 03/01/20260.1%
BBA US Holdings Inc5.375% 05/01/20260.1%
Chegg, Inc.0.250% 05/15/20230.1%
NVA Holdings Inc/United States6.875% 04/01/20260.1%
Danaher Corp.0.000% 04/15/20220.1%
Sage Therapeutics, Inc.0.000% -0.1%
Export Credit Bank of Turkey8.250% 01/24/20240.1%
Performance Food Group, Inc.5.500% 06/01/20240.1%
Tractor Supply Co.0.000% -0.1%
Six Flags Entertainment Corp.4.875% 07/31/20240.1%
Bahia Sul Holdings GmbH6.000% 01/15/20290.1%
United Rentals, Inc.4.625% 10/15/20250.1%
24 Hour Fitness Worldwide, Inc.8.000% 06/01/20220.1%
Britax Childcare4.500% 10/15/20200.1%
Five9, Inc.0.125% 05/01/20230.1%
Exelixis, Inc.0.000% -0.1%
Simmons Foods, Inc.7.750% 01/15/20240.1%
Altran Technologies9.243% 06/26/20260.1%
VF Holding Corp10.053% 07/02/20260.1%
VM Holding SA5.375% 05/04/20270.1%
MRP Generation Holdings LLC9.359% 10/18/20220.1%
Allison Transmission, Inc.5.000% 10/01/20240.1%
Eldorado Intl. Finance GmbH8.625% 06/16/20210.1%
Hunt Oil Co of Peru LLC Sucursal Del Peru6.375% 06/01/20280.1%
CMA CGM SA5.250% 01/15/20250.1%
Radiate Holdco LLC / Radiate Finance Inc6.625% 02/15/20250.1%
Commercial Barge Line11.243% 11/12/20200.1%
Citigroup, Inc.6.125% 12/31/20990.1%
Inmarsat Finance plc6.500% 10/01/20240.1%
Repligen Corp.2.125% 06/01/20210.1%
Micron Technology, Inc.5.327% 02/06/20290.1%
Oceaneering International, Inc.4.650% 11/15/20240.1%
Compass Minerals International, Inc.4.875% 07/15/20240.1%
Algeco Scotsman Global Finance plc8.000% 02/15/20230.1%
Centene Corp.6.125% 02/15/20240.1%
Frontera Generation Hold6.762% 05/02/20250.1%
Nemak S.A.B. de C.V.4.750% 01/23/20250.1%
MGIC Investment Corp.5.750% 08/15/20230.1%
Cumberland Farms Inc6.750% 05/01/20250.1%
Schaeffler Verwaltung Zwei GmbH4.750% 09/15/20260.1%
Summit Materials, Inc.0.000% -0.1%
Molina Healthcare, Inc.5.375% 11/15/20220.1%
PetSmart, Inc.5.875% 06/01/20250.1%
Container Store7.493% 09/14/20230.1%
Levi Strauss & Co.3.375% 03/15/20270.1%
DIRECT CHASSISLINK INC8.693% 06/15/20230.1%
Bruin E&P Partners LLC8.875% 08/01/20230.1%
Lululemon Athletica, Inc.0.000% -0.1%
Advanced Micro Devices, Inc.2.125% 09/01/20260.1%
Flynn Restaurant Group9.514% 06/29/20260.1%
E*TRADE Financial Corp.5.875% 12/31/20990.1%
Netflix, Inc.5.875% 11/15/20280.1%
AssuredPartners Inc7.000% 08/15/20250.1%
Cloud Crane LLC10.125% 08/01/20240.1%
Werner FinCo LP / Werner FinCo Inc8.750% 07/15/20250.1%
Hema Bondco II BV8.500% 01/15/20230.1%
Excelitas Technologies10.308% 11/15/20250.1%
Southern Graphics Inc9.993% 11/22/20230.1%
Pyxus International Inc9.875% 07/15/20210.1%
Mattel, Inc.5.450% 11/01/20410.1%
Forum Energy Technologies, Inc.6.250% 10/01/20210.1%
Sandy Creek Energy Associates5.000% 11/09/20200.1%
Aerojet Rocketdyne Holdings, Inc.2.250% 12/15/20230.1%
Hadrian Merger Sub Inc8.500% 05/01/20260.1%
Monro Muffler Brake, Inc.0.000% -0.1%
General Motors Financial Co., Inc.3.850% 01/05/20280.1%
Gulfport Energy Corp.6.375% 05/15/20250.1%
American Woodmark Corp.0.000% -0.1%
Rayonier AM Products, Inc.5.500% 06/01/20240.1%
PG&E Corp1.125% 12/31/20200.1%
WMG Acquisition Corp.5.000% 08/01/20230.1%
Wyndham Worldwide Corp.6.350% 10/01/20250.1%
Exact Sciences Corp.1.000% 01/15/20250.1%
Swordfish Merger Sub LLC9.270% 02/02/20260.1%
Fogo De Chao Inc6.648% 04/07/20250.1%
QuickSilver Inc.8.350% 04/08/20240.1%
Cheniere Corpus Christi Holdings LLC7.000% 06/30/20240.1%
General Motors Co.5.000% 10/01/20280.1%
North American Lifting Holdings, Inc. (aka TNT Crane & Rigging, Inc)11.803% 11/26/20210.1%
Moxie Patriot LLC8.553% 12/19/20200.1%
AMC Entertainment Holdings, Inc.5.875% 11/15/20260.1%
Dole Food Co., Inc.7.250% 06/15/20250.1%
Powerteam Services LLC10.063% 03/06/20260.1%
Transocean Pontus Ltd6.125% 08/01/20250.1%
American Axle & Manufacturing, Inc.6.250% 04/01/20250.1%
Carrizo Oil & Gas, Inc.8.250% 07/15/20250.1%
Claire's Stores, Inc.0.000% -0.1%
CIBT Solutions, Inc.9.210% 06/01/20250.1%
Griffon Corp.5.250% 03/01/20220.1%
Toll Brothers Finance Corp.4.350% 02/15/20280.1%
Mercer International, Inc.7.375% 01/15/20250.1%
Optimas OE Solutions Holding LLC / Optimas OE Solu8.625% 06/01/20210.1%
Chemours Co.7.000% 05/15/20250.1%
Acadia Healthcare Co., Inc.5.625% 02/15/20230.1%
Owens Corning4.300% 07/15/20470.1%
Imperial Metals Corp.7.000% 03/15/20190.1%
Telecom Italia SpA1.125% 03/26/20220.1%
Bank of America Corp.6.250% 12/31/20990.1%
Joseph T Ryerson & Son, Inc.11.000% 05/15/20220.1%
Owens Corning4.400% 01/30/20480.1%
JD Power & Associates9.500% 06/09/20240.1%
Gray Television, Inc.5.125% 10/15/20240.1%
Trimas Corp.4.875% 10/15/20250.1%
SM Energy Co.5.625% 06/01/20250.1%
Clearway Energy Operating LLC5.000% 09/15/20260.1%
MSCI, Inc.5.375% 05/15/20270.1%
Medplast Holdings Inc10.553% 06/22/20260.1%
American Axle & Manufacturing, Inc.6.500% 04/01/20270.1%
Targa Resources Partners L.P.6.500% 07/15/20270.1%
Wyndham Worldwide Corp.5.750% 04/01/20270.1%
OM Asset Management plc4.800% 07/27/20260.1%
AMC Entertainment Holdings, Inc.6.125% 05/15/20270.1%
Ashtead Capital, Inc.5.250% 08/01/20260.1%
CIT Group, Inc.5.250% 03/07/20250.1%
HCA, Inc.7.690% 06/15/20250.1%
Energizer Holdings, Inc.7.750% 01/15/20270.1%
Grinding Media, Inc. / MC Grinding Media Canada, I7.375% 12/15/20230.1%
Teleflex, Inc.4.625% 11/15/20270.1%
Luxfer Holdings PLC0.000% -0.1%
UC Holdings0.000% -0.1%
Ziggo Bond Co. BV5.875% 01/15/20250.1%
Lennar Corp.4.750% 11/29/20270.1%
General Motors Co.4.200% 10/01/20270.1%
William Lyon Homes, Inc.7.000% 08/15/20220.1%
High Ridge Brands Co.8.875% 03/15/20250.1%
Community Health Systems, Inc.6.250% 03/31/20230.1%
Albertsons Cos LLC / Safeway, Inc. / New Albertson5.750% 03/15/20250.1%
Panda Temple Power, LLC9.800% 02/07/20230.1%
Univision Communications, Inc.5.125% 02/15/20250.1%
Homology Medicines Inc0.000% -0.1%
Aston Martin Lagonda Global Holdings PLC0.000% -0.0%
CF Industries, Inc.4.950% 06/01/20430.0%
Lovesac Co/The0.000% -0.0%
Colorado Buyer, Inc.9.770% 05/01/20250.0%
CIT Group, Inc.6.000% 04/01/20360.0%
Monitronics International, Inc.9.125% 04/01/20200.0%
Wyndham Hotels & Resorts Inc5.375% 04/15/20260.0%
Credit Index Swap5.000% 12/20/20230.0%
CSI Compressco LP / CSI Compressco Finance Inc7.250% 08/15/20220.0%
PG&E Corp1.125% 12/31/20200.0%
Level 3 Financing, Inc.5.250% 03/15/20260.0%
Ashtead Capital, Inc.4.375% 08/15/20270.0%
Ensco plc5.200% 03/15/20250.0%
Ascena Retail Group, Inc.7.000% 08/21/20220.0%
Claire's Stores, Inc.14.000% 09/05/20380.0%
HCA, Inc.5.875% 02/15/20260.0%
Chaparral Energy, Inc.0.000% -0.0%
Claire's Stores, Inc.0.000% 10/12/20380.0%
Gulfport Energy Corp.6.375% 01/15/20260.0%
Univision Communications, Inc.5.125% 05/15/20230.0%
FGI Operating Company, LLC0.000% 05/15/20220.0%
Templar Energy LLC0.000% -0.0%
Credit Default Swap1.000% 06/20/20200.0%
FX USD/EUR 03/190.000% 03/07/20190.0%
Tonon Luxembourg S.A.10.500% 05/14/20240.0%
Remington Outdoor Co. Inc.0.000% -0.0%
FX GBP/USD 03/190.000% 03/05/20190.0%
Morgan Stanley Capital I Trust5.510% 07/15/20560.0%
Templar Energy LLC0.000% -0.0%
Rack Holdings9.731% 10/03/20220.0%
Penson Technologies LLC0.000% -0.0%
FX USD/EUR 03/190.000% 03/07/20190.0%
Afren plc11.500% 02/01/20160.0%
Afren plc10.250% 04/08/20190.0%
Fairway Group Holdings Corp.0.000% 11/24/20230.0%
Fairway Group Holdings Corp.0.000% 02/24/20240.0%
Afren plc6.625% 12/09/20200.0%
FX EUR/USD 03/190.000% 03/07/20190.0%
FX USD/EUR 03/190.000% 03/07/20190.0%
FX USD/EUR 03/190.000% 03/07/20190.0%
FX EUR/USD 03/190.000% 03/07/20190.0%
FX EUR/USD 03/190.000% 03/07/20190.0%
FX EUR/USD 03/190.000% 03/07/20190.0%
US 10YR NOTE (CBT)JUN190.000% 06/28/20190.0%
US ULTRA BOND CBT JUN190.000% 06/28/20190.0%
US 5YR NOTE (CBT) JUN190.000% 07/03/20190.0%
Mirabela Nickel Ltd.1.000% 09/16/20440.0%
Washington Mutual, Inc.6.875% 06/15/20110.0%
General Motors Co.7.200% 01/15/20490.0%
Momentive Performance Escrow0.000% 12/31/20490.0%
EURO-BOBL FUT Jun190.000% 06/10/20190.0%
Fairway Group Acquisition Company0.000% -0.0%
EURO-BUND FUTURE Jun190.000% 06/10/20190.0%
Claire's Stores, Inc.0.000% 09/15/20220.0%
Remington Outdoor Co. Inc.0.000% -0.0%
FX USD/EUR 05/190.000% 05/14/20190.0%
FX USD/EUR 05/190.000% 05/14/20190.0%
FX USD/EUR 05/190.000% 05/14/20190.0%
US 10YR ULTRA FUT JUN190.000% 06/28/20190.0%
US LONG BOND(CBT) JUN190.000% 06/28/20190.0%
FX EUR/USD 03/190.000% 03/07/20190.0%
FX USD/EUR 05/190.000% 05/14/20190.0%
US 2YR NOTE (CBT) JUN190.000% 07/03/20190.0%
FX USD/EUR 03/190.000% 03/07/20190.0%
FX USD/GBP 03/190.000% 03/05/20190.0%
FX USD/CAD 03/190.000% 03/05/20190.0%
FX USD/EUR 05/190.000% 05/14/20190.0%
FX USD/GBP 03/190.000% 03/05/20190.0%
FX USD/EUR 05/190.000% 05/14/20190.0%
FX USD/GBP 03/190.000% 03/05/20190.0%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Sector Allocationas of 03/29/2019

Sector Weighting Fund Change from Previous Quarter
Sector Weighting Fund Change from Previous Quarter
Utility arrowUp0.5%
Transportation arrowDown0.3%
Media arrowUp0.9%
Insurance 0.0%
Leisure arrowUp0.1%
Real Estate arrowUp0.3%
Capital Goods arrowUp0.6%
Energy arrowDown1.3%
Technology & Electronics arrowUp0.4%
Financial Services arrowDown0.4%
Telecommunications arrowDown0.4%
Consumer Goods arrowDown0.2%
Healthcare arrowDown0.9%
Basic Industry arrowUp0.8%
Other 0.0%
Services arrowDown0.3%
Retail arrowDown1.3%
Automotive arrowUp0.6%
Banking arrowUp1.1%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 04/23/2019
$0.105
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 03/31/2019 $0.03453 $7.30
Daily Daily 02/28/2019 $0.03510 $7.27
Daily Daily 01/31/2019 $0.03579 $7.18

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 04/30/2019
Daily Daily 05/31/2019
Daily Daily 06/30/2019
Daily Daily 07/31/2019
Daily Daily 08/31/2019
Daily Daily 09/30/2019
Daily Daily 10/31/2019
Daily Daily 11/30/2019
Daily Daily 12/31/2019

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/18/2014 12/19/2014 $0.0899 $0.0792 $0.1691 $7.44
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

Upcoming Capital Gain Distribution

Record Date Ex-Dividend Date
12/17/2019 12/18/2019

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 04/23/2019

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $7.55
$100,000 to $249,999 1.75% 1.50% $7.51
$250,000 to $499,999 1.25% 1.00% $7.47
$500,000 to $999,999 0.00% 1.00% $7.38
$1,000,000 to $5,000,000 0.00% 1.00% $7.38

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers Click here.

Expense Ratioas of 03/31/2019

Fund Documents

Fund Documents

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Publish Date:11/03/2015
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Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
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Publish Date:11/03/2015
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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.

 

2

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

 

 

IMPORTANT INFORMATION

 

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The Fund invests primarily in high-yield, lower-rated securities, sometimes called junk bonds. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance.

 

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

 

 

Class A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

 

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

 

Returns shown at less than a year reflect aggregate total returns.

 

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.   

 

The ICE BofA Merrill Lynch U.S. High Yield Constrained Index is a capitalization-weighted index of all US dollar denominated below investment grade corporate debt publicly issued in the US domestic market. Qualifying securities must have a below investment grade rating (based on an average of Moody’s, S&P and Fitch), at least 18 months to final maturity at the time of issuance, at least one year remaining term to final maturity as of the rebalancing date, a fixed coupon schedule and a minimum amount outstanding of $100 million. The index caps individual issuer at 2%. Index constituents are capitalization-weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro-rata basis. The face values of bonds of all other issuers that fall below the 2% cap are increased on a pro-rata basis. In the event there are fewer than 50 issuers in the Index, each is equally weighted and the face values of their respective bonds are increased or decreased on a pro-rata basis.

Source: ICE Data Indices, LLC. 

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

 

The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

 

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

 

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

 

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

 

 

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

 

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.  

 

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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